1 Overview

We examine stock 002460 based on the financial report at per 2017-09-30.

1.1 Cumulative YtD view

1.2 Single Qtr

2 Key indicators

3 Liquidity

3.1 Interest bearing liability

Interest bearing liability is the sum of Short-term Loans, Non-Current Liabilities Due Within One Year, Long-term Loans, Bonds Payable.

3.1.1 Cumulative YtD view

3.1.2 Single Qtr

4 Inventory

4.1 Inventory vs Operating Income

Pitfall: inventory growth outpace of operating income

4.1.1 Cumulative YtD view

4.1.2 Single Qtr

4.2 Inventory and Advance Receipts

Potential: PnL management indicator. Deals might be finished, just book them in these accounts for near future income release. Check inventory details for confirmation.

4.2.1 Cumulative YtD view

4.2.2 Single Qtr

4.3 Inventory vs gross margin

5 Account Prepaid

Potential: a large increase might indicate potential boost in production. “预付原材料款” instead of “预防设备采购款”.

Pitfall: 大股东挪用公司资金的方式之一：表面上给供应商（审计很难核实）预付货款，实际上付给大股东的关联公司。虚报增存货是另一种方式. MUST compare to peers

5.1 Cumulative YtD view

5.2 Single Qtr